NatWest (NWG) Operating Margin (2009 - 2026)
NatWest (NWG) posted quarterly Operating Margin of 77.4% for Q1 2026, up 1031.0% year-over-year from 6.84% in Q1 2025, and down 3.55% on a QoQ basis from 80.25% in Q4 2025.
NatWest (NWG) Operating Margin (2009 - 2026) Analysis & Trends
NatWest has reported Operating Margin for 18 years, with the latest figure at 77.4% in Q1 2026.
- Operating Margin for Q1 2026 came in at 77.4%, up 1031.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 74.83% (up 1249.0% YoY), and the FY2025 annual result was 30.13%, up 536.0% from the prior year.
- Operating Margin slipped to 77.4% in Q1 2026, from 80.25% in the prior quarter.
- Over five years, Operating Margin peaked at 147.11% in Q1 2022 and troughed at 54.06% in Q3 2024.
- A 5-year average of 88.43% and a median of 71.99% in 2023 frame the typical range for Operating Margin.
- The widest annual swing landed in 2023, when Operating Margin plunged 6502 bps; it then jumped 1782 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 125.89% in 2022, then slumped by 47 bps to 67.12% in 2023, then advanced by 2 bps to 68.16% in 2024, then gained by 18 bps to 80.25% in 2025, then dropped by 4 bps to 77.4% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 77.4% in Q1 2026, 80.25% in Q4 2025, and 71.88% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Hdfc Bank | 119.58 Bn | 83.39 Bn | - | - |
| 2 | Pnc Financial Services | 97.75 Bn | 97.75 Bn | - | - |
| 3 | Us Bancorp | 96.33 Bn | 96.33 Bn | - | - |
| 4 | Lloyds Banking | 93.61 Bn | 93.91 Bn | - | - |
| 5 | NatWest | 73.86 Bn | -145.23 Bn | - | - |
| 6 | Deutsche Bank Aktiengesellschaft | 71.72 Bn | -81.60 Bn | - | - |
| 7 | Nu Holdings | 68.51 Bn | 54.82 Bn | 2.35 Bn | 53.44% |
| 8 | Truist Financial | 61.69 Bn | 61.69 Bn | - | - |
| 9 | Fifth Third Bancorp | 49.73 Bn | 26.00 Bn | - | - |
| 10 | Itau Unibanco Holding | 40.31 Bn | 42.00 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 77.40% |
| Dec 31, 2025 | 80.25% |
| Sep 30, 2025 | 71.88% |
| Jun 30, 2025 | 69.41% |
| Mar 31, 2025 | 67.09% |
| Dec 31, 2024 | 68.16% |
| Sep 30, 2024 | 54.06% |
| Jun 30, 2024 | 59.74% |
| Mar 31, 2024 | 61.09% |
| Dec 31, 2023 | 67.12% |
| Sep 30, 2023 | 71.99% |
| Jun 30, 2023 | 94.03% |
| Mar 31, 2023 | 110.04% |
| Dec 31, 2022 | 125.89% |
| Sep 30, 2022 | 137.01% |
| Jun 30, 2022 | 141.11% |
| Mar 31, 2022 | 147.11% |
| Dec 31, 2021 | 173.98% |
| Sep 30, 2021 | 155.88% |
| Jun 30, 2021 | 146.88% |